General Fusion to go public in first-of-its-kind fusion energy deal

British Columbia-based General Fusion announced a planned transaction with Spring Valley Acquisition Corp. III to go public on Nasdaq; the article says the deal is expected to close in mid-2026 and would value the company at about US$1 billion.

General Fusion announced a planned agreement with Spring Valley Acquisition Corp. III to become a publicly listed company. If completed, the article reports the move would make General Fusion the first publicly traded company focused entirely on fusion power. The company is based in Metro Vancouver with main research facilities at Vancouver International Airport and has operated its Lawson Machine 26 (LM26) research device since last year. General Fusion says it will use proceeds from the transaction and private financing to continue work on its technology. Key details: - The article reports the transaction is expected to close in mid-2026 and would place the company on the Nasdaq exchange. - The article mentions the ticker GFUZ and a reported valuation of about US$1 billion for the combined company. - General Fusion was founded in 2002 and uses magnetized target fusion, which squeezes plasma with liquid metal rather than relying on superconducting magnets or high-powered lasers. - LM26 is described as roughly half the size of what a commercial power system would require, and the machine's performance could influence a larger planned demonstration project in the U.K. - Before the announcement, the company had raised more than US$400 million from private investors and partners, and the article notes investor support has included public funding and participation from figures such as Jeff Bezos. - Spring Valley Acquisition Corp. III is identified in the article as an investment firm focused on energy and clean-technology companies. Summary: The reported transaction would create a publicly listed company focused solely on fusion, and the funding is intended to advance General Fusion's LM26 work and development plans. The deal is expected to close in mid-2026, and the company's next technical milestone will be the continued testing and performance assessment of LM26; further decisions on the larger U.K. demonstration project are tied to those results.